Rising demand and technological advancements propel APAC automotive suspension systems market – ET Auto

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Rising demand and technological advancements propel APAC automotive suspension systems market – ET Auto


In addition to comfort, the rise in the demand for electric vehicles (EVs) is significantly influencing the suspension systems market.

New Delhi: Automotive suspension systems are evolving in response to changing consumer demands and technological advancements. With rising disposable incomes in the Asia-Pacific (APAC) region, there is a growing demand for passenger cars and, consequently, suspension systems. According to GlobalData, a leading data and analytics company, the APAC suspension systems market is projected to grow at a CAGR of 1.0% from 2023 to 2028, increasing from 208.3 million units in 2023 to 219.3 million units by 2028.Madhuchhanda Palit, an Automotive Analyst at GlobalData, stated, “Increasing consumer demand for driving comfort is driving the electronic suspension systems, including active and semi-active suspension systems markets in the region. These suspension systems take into account driving conditions such as speed, the surface of the road, cornering, stopping requirements, and acceleration and adjust the shock absorber firmness accordingly for a smooth driving experience, especially helpful for people with nausea and vomiting tendencies.”

In addition to comfort, the rise in the demand for electric vehicles (EVs) is significantly influencing the suspension systems market. Companies are actively investing in the development of suspension systems tailored for EVs. These systems are integral to providing an optimized driving experience in line with the characteristics of electric cars.

Automakers are also focusing on technological advancements to enhance energy efficiency through suspension systems. One such innovation is the regenerative suspension system. This system recovers energy from the suspension’s movement and converts it into electricity. The generated electricity can be used immediately to power an electric motor or stored in a battery for future use.

To further improve energy efficiency, manufacturers are incorporating advanced materials such as carbon fiber and aluminum in suspension systems. These materials help in reducing the weight of the suspension systems, which in turn contributes to better energy efficiency.

As consumer expectations for driving comfort and energy-efficient technology continue to rise, the automotive suspension systems market in the APAC region is set to witness steady growth. The ongoing developments in electronic, active, and regenerative suspension technologies are poised to shape the future of driving experiences in the region.

  • Published On Jun 21, 2024 at 08:30 AM IST

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